Texas Comptroller Encourages Families To Start Saving For Higher Education

Texas Comptroller Glenn Hegar Encourages Families to Start Saving for Higher Education on “529 College Savings Day”

With “529 College Savings Day” set for May 29, Texas Comptroller Glenn Hegar wants to remind families about the importance of saving for their children’s higher education expenses through college savings plans known as “529 plans” as authorized by Section 529 of the Internal Revenue Code.

“Families can give their kiddos a head start on saving for college by learning how a 529 plan works or by contributing to an existing 529 plan,” Hegar said. “There are few greater contributions than saving for your loved one’s future higher education.”

Texas offers three tax-advantaged 529 plans: the Texas College Savings Plan® (TCSP) and the LoneStar 529 Plan®, both college savings plans, and the Texas Tuition Promise Fund® (TTPF), a prepaid tuition plan.

The TTPF is designed to help families and individuals prepay and lock in today’s rates for all or some future undergraduate tuition and school-wide required fees at any two- or four-year Texas public college or university. The TCSP and LoneStar 529 college savings plans allow families to work toward building college savings by investing in one or more professionally managed portfolios, enrolling either directly or through a financial advisor.

The Texas Prepaid Higher Education Tuition Board administers all three 529 plans through the Comptroller’s office. TTPF enrollment for newborns is available through July 31 to lock in undergraduate tuition and school-wide required fees at 2015-2016 prices; open enrollment begins Sept. 1 for 2016-2017 prices. The TCSP and LoneStar 529 plans are open for enrollment year-round.

Learn more about our Texas 529 plans by visiting www.TexasCollegePlans.com.

Each plan imposes administrative fees and service charges in connection with any agreement, contract or transaction in amounts not exceeding the cost of establishing and maintaining each plan. Before purchasing, carefully consider risks, fees and charges. The plan descriptions contain this and other information and are available on the plan websites.

Comments or complaints may be forwarded to Prepaid Higher Education Tuition Program, Office of the Comptroller of Public Accounts, P.O. Box 13407, Austin, Texas 78711-3407; or by calling 512-936-2064.